HC Wainwright Initiates Coverage on Corium International, Inc. (CORI)

Stock analysts at HC Wainwright began coverage on shares of Corium International, Inc. (NASDAQ:CORI) in a report issued on Tuesday, The Fly reports. The firm set a “buy” rating on the biopharmaceutical company’s stock.

CORI has been the subject of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of Corium International in a report on Sunday, September 17th. Jefferies Group LLC restated a “buy” rating and issued a $8.00 price objective on shares of Corium International in a report on Wednesday, July 19th. WBB Securities upgraded shares of Corium International to a “buy” rating and set a $13.00 price objective for the company in a report on Friday, July 7th. BidaskClub lowered shares of Corium International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research lowered shares of Corium International from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $12.21.

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Corium International (CORI) opened at 10.88 on Tuesday. The company’s market cap is $388.87 million. The company has a 50-day moving average of $8.44 and a 200 day moving average of $6.67. Corium International has a 52 week low of $2.67 and a 52 week high of $11.28.

Corium International (NASDAQ:CORI) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.13). Corium International had a negative return on equity of 673.17% and a negative net margin of 145.60%. The company had revenue of $8.11 million during the quarter, compared to analysts’ expectations of $8.71 million. On average, equities analysts forecast that Corium International will post ($1.69) EPS for the current fiscal year.

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In related news, CAO Timothy D. Sweemer sold 12,012 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $7.62, for a total transaction of $91,531.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Life Sciences Maste Perceptive purchased 301,004 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were purchased at an average price of $7.71 per share, with a total value of $2,320,740.84. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 91,953 shares of company stock valued at $705,258. Company insiders own 45.70% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. California State Teachers Retirement System bought a new stake in Corium International during the 2nd quarter valued at $263,000. State Street Corp bought a new stake in Corium International during the 2nd quarter valued at $1,840,000. Stonepine Capital Management LLC bought a new stake in Corium International during the 2nd quarter valued at $3,085,000. EAM Investors LLC bought a new stake in Corium International during the 2nd quarter valued at $563,000. Finally, New York State Common Retirement Fund bought a new stake in Corium International during the 2nd quarter valued at $158,000. Institutional investors own 90.14% of the company’s stock.

About Corium International

Corium International, Inc is a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty pharmaceutical products. As of September 30, 2016, the Company had multiple programs in preclinical and clinical development focused primarily on the treatment of neurological disorders, with two lead programs in Alzheimer’s disease.